Bank of Cyprus
ATHEX: Benchmark weighed down by bank losses
Stocks moved within a particularly narrow range in on Tuesday's trading session at Athinon Avenue, as the entire economy was hoping for a concrete token of support to come from US President Barack Obama's visit to Athens. Eventually the benchmark closed near the day's low, with banks taking quite a hit compared to other stocks.
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BoC to leave ATHEX for London bourse
Bank of Cyprus, the East Mediterranean island's largest lender, said Tuesday it would apply for a listing on the London Stock Exchange as part of its restructuring drive.
"We are delighted to be applying for a listing on the London Stock Exchange, which marks another significant step in the bank's transformation," said BoC chairman Josef Ackermann in a statement.
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Bank of Cyprus offloads Russian subsidiary
Bank of Cyprus, the largest lender of Greek Cyprus, announced July 17 that it has sold off its Russian subsidiary Uniastrum as part of what it called a "de-risk strategy."
BoC said the sale follows a similar deal in Ukraine and completes the disposal of the group's overseas banking subsidiaries identified for sale.
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Bank of Cyprus CEO to step down after difficult overhaul
Bank of Cyprus CEO John Patrick Hourican announced on Tuesday he will step down in the summer less than two years into a major restructuring of the island?s troubled largest lender.
Piraeus confirms absorption of Panellinia Bank
Piraeus Bank announced late on Friday that it is absorbing the healthy part of Panellinia, a small cooperative bank that failed to complete its required share capital increase.
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Quarantine for Greek bank subsidiaries in neighboring countries
By Yiannis Papadoyiannis
Neighboring countries have effectively quarantined Greece in a bid to minimize the consequences on their credit systems in case of a Greek ?accident.?
BoC disposing of 41 properties across Greece
The Bank of Cyprus group is putting up for sale a total of 41 properties across Greece which in most cases are leased out to third parties and belong to the group?s subsidiary firm, Cyprus Leasing SA.
Nonbinding offers are expected next week, while the final, binding bids will be submitted in May.
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Bank of Cyprus 2014 loss narrows sharply
Bank of Cyprus said on Wednesday it posted a 256-million-euro loss for 2014, mainly on increased provisions for exposure to Russia.
?The results of the fourth quarter... were negatively affected by increased provisions relating... to impairments in Russia,? CEO John Patrick Hourican said in a statement.
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Cars torched outside Cyprus banker's home
NICOSIA ? Arsonists torched two cars early on Tuesday outside the home of the head of Bank of Cyprus, who has overseen a major restructuring of the island?s largest lender, police said.
John Patrick Hourican ? a former Royal Bank of Scotland senior executive who joined BoC in October 2013 ? was out of the country on business at the time of the arson attack.
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Interest alive in property investment sector
By Nikos Roussanoglou
Investors are still drawn to the Greek property market despite the continued uncertainty, which may increase risk but also keeps prices low, experts say.
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